By Anthony Turco
There’s a term in real estate and it’s absolutely the arch-nemesis to finding success. Do you know what it is? Complacency. Some agents enter this industry and find themselves perfectly satisfied staying in one market, applying the same business model everyone else uses, and finding moderate success along the way. However, in order to ascend the ranks of top producer or real estate superstar, this philosophy of complacency must disappear.
How? By making sure to always maintain a healthy discontentment with the status quo and by staying keenly aware that in all likelihood, your market is over-saturated with competition.
But what can be done to create this change? Get creative. Study trends both locally and nationwide, and research innovative ways to expand your business outside of the traditional market model.
Here’s an example from my own business: Recently, I’ve paid close attention to the changes in my Florida market, and have found myself adopting a new approach. Having applied a consistent and successful model in the Southwest Florida area since the mid-2000s, I realized that it simply wasn’t enough. It was time for something new, so I began to research other areas of Florida that might prove to be a successful venture. Having grown up in Southeast Florida, I found this to be the perfect opportunity – not only for its familiarity, but also because the area is highly significant in luxury real estate. After studying business models with my father, John—also an agent with Berkshire Hathaway HomeServices Florida Realty—and performing significant market research, we decided to expand our business to this area. Using the same techniques that have made us successful in other Florida areas and capitalizing on the fine Berkshire Hathaway HomeServices brand reputation, we found listings were being generated in record time – three in 30 days, one of which is already pending as I write this post.
Was this just an accidental occurrence? Did we get lucky? Absolutely not. This was much more than a case of accidental luck. We had made a calculated, thoughtful decision that took time and effort and saw first-hand how thinking outside of our comfort zone and taking risks yielded rewards.
So, if you’re looking to get to the next level in your business, try approaching real estate from a broader perspective, and replace short-sighted comforts with longer term designs.